trending Market Intelligence /marketintelligence/en/news-insights/trending/EWJJvyb15LPGdDTEGLQzEQ2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Moody's lifts UAE ratings outlook


Latin American and Caribbean Market Considerations Blog Series: Focus on LGD


Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level


Fintech Intelligence Digital Newsletter: May 2021

Moody's lifts UAE ratings outlook

Moody's May 27 upgraded the United Arab Emirates' ratings outlook to stable from negative, citing effective policy response to low oil prices, expected improvement in fiscal and current account positions, and economic growth prospects.

The rating agency affirmed the UAE's long-term Aa2 issuer rating while the country's long- and short-term foreign-currency bond and deposit ceilings were unchanged at Aa2 and Prime-1, respectively.

The rating agency noted that lower oil prices prompted the government to implement reforms strengthening policy making and planning.

Moody's expects the country's consolidated government debt to stabilize at about 20% of GDP in 2017-18, saying Dubai and Abu Dhabi account for the majority of the general government debt, with the former shouldering the largest portion.

The UAE's relatively diversified economy and strong competitiveness allow it to raise fiscal revenue from non-oil sectors while containing the impact on long-term growth.